$1,000 a month is $12,000 a year, not $50,000.
But, let's say you need $50,000 a year. Are you actually earning 1% per year compounding monthly? (i.e., a monthly deposit of about $42?) That is better than current 6 month CD rates. You might try to shop around at credit unions and banks to see if there are money market accounts or checking accounts that are paying more, 1.5% or something.
I don't think anyone would advise stock market investments for money you know you need 100% of in the next year, or even two years. The real recommendation is to get so you only need $36,000 a year, and invest the remaining 14,000.